Raw Materials Weaker at Midday

The morning has been mostly red, and not just in ag markets. Crude is down $1.70/barrel at $73.30, basis spot WTI. Emerging market currencies are weaker. EU milling wheat futures look to settle down €.75-1.00/MT. Oilseed markets worldwide have found renewed selling interest ahead of Thursday’s USDA data, with EU and Canadian rapeseed contracts down…

CBOT Summer Row Crops Sink on Yield Expectations/Drier W Midwest Weather Forecast to Aid Harvest; US Wheat Export Demand Brightening

** The morning has been mixed at the CBOT with corn/soybeans weaker while wheat is firmer. CBOT trade volume is being curtailed by Thursday’s USDA Crop Report with everyone waiting for the data. Fund managers see the stock market retreat on rising US interest rates are looking for non-correlated other opportunities. Commodities are near the…